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May 9, 2024
First-time claims for U.S. unemployment benefits rose by much more than expected the week ending on May 4, according to a report released by the Labor Department.
The report said initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week's revised level of 209,000. Economists had expected jobless claims to increase by 210,000 from the 208,000 reported the previous week. The Labor Department said the less volatile four-week moving average also increased by 215,000, up from 4,750 from the previous week's revised average of 210,250. 05/09/2024 - 08:34:00 (RTTNews)
China traded at 7.2198 against USD at 9:00 am PST.
China's exports and imports rebounded more than expected in April after a weak trade data the previous month that boost hopes that net trade would support economic growth, official data revealed. Largely due to the lower base of comparison, exports advanced by 1.5% on a yearly basis in April, the customs office reported. This was faster than the 1.0% expected growth and reversed March's 7.5% decrease. Imports posted an annual increase of 8.4% after a 1.9% drop in March. This was also bigger than economists' forecast of 5.4%. As a result, the trade balance showed a bigger surplus of $72.4 billion in April versus $58.6 billion the previous month. However, the surplus remained below the expected level of $81.4 billion. 05/09/2024 - 06:05:00 (RTTNews)
Japanese Yen traded at 155.66 against USD at 9:00 am PST.
Total labour cash earnings continued to increase in March, though at a slower-than-expected rate, a report from the Ministry of Health, Labour, and Welfare showed. Total earnings rose 0.6% year-over-year in March, versus a revised 1.4% rise in February. That was also slower than the expected increase of 1.5%. Among industries, finance and insurance activities showed the highest rise in total cash earnings, by 7.2%. This was followed by a 5.4% gain in living, personal services, and amusement. Contractual gross earnings grew at a steady pace of 1.5%, while special cash earnings fell by 9.4%. Data showed that real cash earnings dropped 2.5% from last year, following a 1.8% decrease in the prior month. 05/09/2024 - 03:59:00 (RTTNews)
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